Help for Homeowners Facing Threat of Foreclosure

Conn. – April 3, 2013 – (RealEstateRama) — Casa, Dom, La Maison, Home…Connecticut’s Emergency Mortgage Assistance Program (EMAP) may be the key to help you keep it.

Connecticut Housing Finance Authority (CHFA) is accepting applications for the Emergency Mortgage Assistance Program (EMAP) available for city and area homeowners who are or facing foreclosure or having trouble making their mortgage payments due to a temporary financial hardship. Homeowners facing this possibility should contact CHFA at 877-571-CHFA (2432).

An EMAP loan can cover past due as well as a portion of current monthly mortgage payments for up to five years to eligible Connecticut homeowners facing foreclosure due to a temporary financial hardship beyond their control, such as job loss, health or family financial hardship. An EMAP loan is secured by a fixed-rate, second mortgage on the homeowner’s residence. To qualify, applicants must be able to resume mortgage, loan and interest payments after the assistance period.

“Our goal is to help Connecticut homeowners threatened by foreclosure to stay in their homes,” Eric Chatman, President & Executive Director, CHFA said. “The Emergency Mortgage Assistance Program, funded by the State, keeps families together, keeps children in their schools, stabilizes neighborhoods and reduces the number of foreclosed properties on the market.

EMAP eligibility requirements will be explained to those homeowners who request information from CHFA’s Customer Call Center at 877-571-CHFA (2432). The Customer Call Center is open Monday – Friday from 8:30 am until 6:00 pm. After hours, callers can leave a message and the calls will be returned.
Area homeowners who are facing financial difficulties may also contact any CHFA-HUD approved counseling agency, which provide services free-of-charge to homeowners. To find a counseling agency in your area, visit CHFA’s website at www.chfa.org.
Contact:
Lisa Kidder 860-571-4355

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